Partnership With MoneyGram Is Good For XRP and the Crypto Ecosystem, Ripple’s Global Head Affirms


Marjan Delatinne, the global head of banking at Ripple, has recently spoken at the Global Blockchain Summit by talking about some of the most popular topics with crypto investors. According to Delatinne, one of the main developments for the company was to start its partnership with MoneyGram, which began last week.

The partnership, as it was affirmed, has vital importance to the ecosystem because MoneyGram is currently one of the largest payment providers in the whole world. Because of this, a company such as Ripple simply has to work together with these giants.

Now, MoneyGram will use Ripple’s service, xRapid, in order to transfer funds around the world. This is considered a huge victory for the company, so xRapid can finally take-off.

So far, xRapid has been a very exciting technology for XRP holders, as it is one of the Ripple’s main products. Partly, all the excitement comes from the fact that many of these users expect Rippe’s xRapid to help in increasing the price of these assets.

If MoneyGram will use this technology, and the company has made over $20 billion USD in transfers last year, this would be the first time ever in which Ripple would see one of its products reaching a really high scale.

According to Delatinne, xRapid is all about sourcing on-demand liquidity. The focus on liquidity happens because the company believes that people do not give it the attention it deserves. However, liquidity was said to be the main cost behind cross-border transactions.

This happens because, without using a system such as xRapid, the accounts need to be pre-funded in order to make the exchanges work. With xRapid, companies will not need to tie their capital this way anymore and this can lead them to achieve better results.

Delatinne believes that banks are currently using archaic systems and that this makes them “hungry for change”, which is the perfect opportunity for services like xRapid to grow in use.

She also spoke about SWIFT, affirming that Ripple and SWIFT are actually not competitors because both of them have their own value and can work in a complementary way, so institutions and their clients can be helped by both.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide